MECKLENBURG COUNTY, NC - On August 4th, the Mecklenburg County Board of County Commissioners unanimously approved Davidson Housing Coalition's proposal for a ten-year $300,000 grant for rent subsidies for the eight townhouses that DHC will acquire within the Hoke Townhome development on Jetton Road in Davidson.
DHC will maintain affordable rental rates for these eight units in perpetuity. They will be distributed and controlled by DHC during the development.
Program Manager for the Affordable Housing Initiatives of Mecklenburg County LaShonda M. Hart says, "The collective influence that this collaboration will have on the City of Davidson is an example of the success of a common purpose of finding creative solutions for affordable housing through rental subsidies."
The approval of the County Commissars is fantastic not just for Hoke development and DHC but also a big step forward for cost-effective housing in the region.
The County funds are utilized to pay for the difference between the renter's rent and the current rent rate. "This substantial County award gives us trust that we can generate extra money to extend our grant program to other local rental property to provide services to more persons whose earnings qualify them for affordable housing," adds Wright. "Our ability to match rental properties with eligible homes can expand beyond the rental properties already owned by DHC with generous grants and donations."
The availability of cheap housing in a community limits families' ability to become financially self-sufficient. DHC has been looking for ways to fund its new local rental subsidy effort, Affordable for the US, which aims to increase the number of rental units affordable to those earning less than 80% of the area median income.
"While we proceed to look for new affordable housing opportunities, the County Commissioners' approval of this $300,000 grant allows us to support current housing possibilities." Wright adds.
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